Garmin GRMN Fitness — Cost of Goods Sold

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Questions, answered.

What is Garmin's fitness — cost of goods sold?

Garmin (GRMN) reported fitness — cost of goods sold of $208.3M in Q1 2026.

How has Garmin's fitness — cost of goods sold changed year-over-year?

Garmin's fitness — cost of goods sold increased by 26.6% year-over-year, from $164.58M to $208.3M.

What is the long-term trend for Garmin's fitness — cost of goods sold?

Over 3 years (2022 to 2025), Garmin's fitness — cost of goods sold has grown at a 19.7% compound annual growth rate (CAGR), from $557M to $954.42M.

What does fitness — cost of goods sold mean?

The direct costs incurred to manufacture and deliver fitness products and services.

How do you interpret fitness — cost of goods sold?

An increase relative to revenue suggests margin compression, while a decrease relative to revenue indicates improved manufacturing efficiency.

How does fitness — cost of goods sold compare across companies?

Standard COGS reporting for hardware manufacturers.